The investment seeks long-term capital appreciation with a secondary emphasis on capital preservation.
The fund is considered a "fund of funds" that seeks to achieve its investment objective by primarily investing in other exchange-traded funds that offer diversified exposure to global regions, countries, styles (market capitalization, value, growth, etc.) or sectors, and other exchange-traded products. It primarily invests in U.S.-listed domestic and foreign equity, fixed income, and commodity ETPs. The Sub-Advisor uses a quantitative tactical methodology to identify the ETPs believed to be participating in long-term "durable trends" within the market.
The investment seeks to limit the impact of large equity market declines, and the secondary investment objective is growth of capital.
The fund invests primarily in U.S. Treasury bills, individual equity securities, money market funds, exchange traded funds ("ETFs"), open-end mutual funds and closed-end funds that each invest primarily in equity securities (common stock and securities convertible into common stock). This group of ETFs and funds is referred to as "underlying funds." Equity securities, whether purchased directly or indirectly through underlying funds, are not restricted by issuer capitalization or country.